Complaint Review: Americredit - Fort Worth Texas

All of you crying and whining about ACF and stomping your feet about class action suits are incredible!

You were SUBPRIME before you were financed by ACF and you were subprime ONLY because YOU MADE YOURSELF subprime by having a reputation of NOT PAYING YOUR BILLS on time.

Now here you are into the ACF contract and incredibly you continue to NOT PAY YOUR BILLS ON TIME!  One would think some people would learn!  Because you are CONTINUING to not pay your bills on time, ACF takes action against you and guess what?  Its whine, whine, whine, stomp your feet and start crying "class action".  That's right...a class action suit because deadbeats continue to be deadbeats and can't stand when the lender takes action.  The lender is supposed to look the other way when the deadbeat, who cannot or will not develope the maturity and integrity to pay their bills on time, welches out on their obligations!  Lawyers must come to this site for a comedy break!

Oh yes, the "very high interest rate" YOU gave YOURSELF because of YOUR reputation of YOU not paying YOUR BILLS on time! 

GROW UP!!!

we also got a 60 month loan here we are 2 payments left and they say we owe 4000 i have paid these ppl over 31k dollars and they are asking me for more money??? something needs done about this company and also they said with my last payment the amount is to be paid in full no way i can come up with that much money sad but true i will prolly get a repo on my credit i feel i have been scammed and they wont work with me i keep getting the run a round

We just paid these con artist off in January.They claimed that the title to the car would be sent in 30 days.As of today,no title or phone call.We decided to call them and ask where the title was. Their excuse was that they sent it to an "old address" and it was sent back to them...please spare me!Now they are claiming that they do no thave our current address but when we paid them (2) Western Union check by phone payments,they asked us for the address.It is going on 2 months and they are shamming with our title. I went to check my credit report after we paid them off and they updated a "paid" account with zero balance.I then decided to dispute all of those 30 day lates and what would you have it,they updated with "open" account without the "paid" remark. It's funny that they sent their monthly statements to my current address but decided to send my title to a old address....liars.

thanks for the info about other lenders Richard, but it is important to tell others about Americredit and any other lenders dealing as loansharks. it is easy to sit back and give advice but once the damage has been done, the only way to prevent others from the same thing is to spread the word. if they choose to go with americredit or some other lender then all I can say is good luck because I have done everything in my power to warn them. if I had the power to shut all the loansharks down I would, but that is not in any of our control. all I can say is it would be better to ride a bike, take a bus or walk before I would use any of these lenders at all. I know it is a necessity to have a car these days but the agony and the reprocussions of what happens to you and your credit after being involved with this company is not worth it. I wish to goodness someone would have warned me about this type of company. in the past before 9/11 when my credit was better, and before we lost about everything, I had never dealt with this type of lowlife company. the attorney generals office is closing down all these check cashing places here in North Carolina, so they should do the same with lenders like Americredit. some of these businesses here were charging customers 100 percnet interest. I am going to continue to report them until something is done about these type of businesses.

I am in the same boat as you. We also had a 60 month loan and we had only 3 deferments which added 6 additional payments, so why did they say we have 67 payments total. As of today we have 3 payments left and the balance is still right at $4000 how is that possible on a $385.00 payment. We were told that we will be expected to make a balloon payment, in order to get the title released, which is clearly not in the contract (yes we have a copy). We were also told about the interest on the loan. The rep said that interest is taken out of each payment before applied to principal, so what is this balloon payment? We have contacted a consumer lawyer here in our area and were advised that they cant do anything until we fulfill our contractual obligation which is 3 more payments and then they are going to step in a file suit for consumer/contract fraud.

I am in the same boat as you. We also had a 60 month loan and we had only 3 deferments which added 6 additional payments, so why did they say we have 67 payments total. As of today we have 3 payments left and the balance is still right at $4000 how is that possible on a $385.00 payment. We were told that we will be expected to make a balloon payment, in order to get the title released, which is clearly not in the contract (yes we have a copy). We were also told about the interest on the loan. The rep said that interest is taken out of each payment before applied to principal, so what is this balloon payment? We have contacted a consumer lawyer here in our area and were advised that they cant do anything until we fulfill our contractual obligation which is 3 more payments and then they are going to step in a file suit for consumer/contract fraud.

I am in the same boat as you. We also had a 60 month loan and we had only 3 deferments which added 6 additional payments, so why did they say we have 67 payments total. As of today we have 3 payments left and the balance is still right at $4000 how is that possible on a $385.00 payment. We were told that we will be expected to make a balloon payment, in order to get the title released, which is clearly not in the contract (yes we have a copy). We were also told about the interest on the loan. The rep said that interest is taken out of each payment before applied to principal, so what is this balloon payment? We have contacted a consumer lawyer here in our area and were advised that they cant do anything until we fulfill our contractual obligation which is 3 more payments and then they are going to step in a file suit for consumer/contract fraud.

I am in the same boat as you. We also had a 60 month loan and we had only 3 deferments which added 6 additional payments, so why did they say we have 67 payments total. As of today we have 3 payments left and the balance is still right at $4000 how is that possible on a $385.00 payment. We were told that we will be expected to make a balloon payment, in order to get the title released, which is clearly not in the contract (yes we have a copy). We were also told about the interest on the loan. The rep said that interest is taken out of each payment before applied to principal, so what is this balloon payment? We have contacted a consumer lawyer here in our area and were advised that they cant do anything until we fulfill our contractual obligation which is 3 more payments and then they are going to step in a file suit for consumer/contract fraud.

Since I do not have an account with Americredit, I won't be asking them for any printouts. If you read my post, you will see that I said one would probably have great difficulty in getting one from what I have read on these reports. I do hope that you get your fair day in court. But I really speak more to those that do not have an account at Americredit I think it was you who said that you have directed friends and relatives away from Americredit. I warn all who will listen that Americredit is an industry leader and other sub-prime second chance auto lenders model themselves after Americredit. By directing friends away from Americredit, you are not necessarily helping your friends any. They will just be doing business with another company, if they end up with a sub-prime lender, that will basically handle them the same way that Americredit would. Almost every sub-prime lender that I know of has a healthy file in this rip off report!! These companies do not view the individual borrowers as customers. The customers are the auto dealerships. The borrowers are a product that is used to generate profit. One of fivethings happen with a borrower. 1) Either they pay fine and are able to finance their next car themselves or the dealer can get regular financing through his sources. 2) The customers pay poorly and the lender does not want them back as a "customer." 3) They pay so-so and their next purchase must also be financed through sub-prime financing, but they end up with a different finance company for any of several reasons (the dealer doesn't have a relationship with the buyerspresent co., another co. gave a better rate or stronger payment call, etc.) 4) The customer paid so-so and must still finance his next purchase with sub-prime financing and the finacing is done through his present financing. 5) The customer pays fine but due to other credit problems he must stay with sub-prime financing and he ends up with his present borrower. Numbers 4 & 5 rarely happen. These sub-primwe companies do not care about your repeat business. The minute your account goes bad you are deemed a problem account or a potential problem account and they seek to collect the balance in full.

Since I do not have an account with Americredit, I won't be asking them for any printouts. If you read my post, you will see that I said one would probably have great difficulty in getting one from what I have read on these reports. I do hope that you get your fair day in court. But I really speak more to those that do not have an account at Americredit I think it was you who said that you have directed friends and relatives away from Americredit. I warn all who will listen that Americredit is an industry leader and other sub-prime second chance auto lenders model themselves after Americredit. By directing friends away from Americredit, you are not necessarily helping your friends any. They will just be doing business with another company, if they end up with a sub-prime lender, that will basically handle them the same way that Americredit would. Almost every sub-prime lender that I know of has a healthy file in this rip off report!! These companies do not view the individual borrowers as customers. The customers are the auto dealerships. The borrowers are a product that is used to generate profit. One of fivethings happen with a borrower. 1) Either they pay fine and are able to finance their next car themselves or the dealer can get regular financing through his sources. 2) The customers pay poorly and the lender does not want them back as a "customer." 3) They pay so-so and their next purchase must also be financed through sub-prime financing, but they end up with a different finance company for any of several reasons (the dealer doesn't have a relationship with the buyerspresent co., another co. gave a better rate or stronger payment call, etc.) 4) The customer paid so-so and must still finance his next purchase with sub-prime financing and the finacing is done through his present financing. 5) The customer pays fine but due to other credit problems he must stay with sub-prime financing and he ends up with his present borrower. Numbers 4 & 5 rarely happen. These sub-primwe companies do not care about your repeat business. The minute your account goes bad you are deemed a problem account or a potential problem account and they seek to collect the balance in full.

Since I do not have an account with Americredit, I won't be asking them for any printouts. If you read my post, you will see that I said one would probably have great difficulty in getting one from what I have read on these reports. I do hope that you get your fair day in court. But I really speak more to those that do not have an account at Americredit I think it was you who said that you have directed friends and relatives away from Americredit. I warn all who will listen that Americredit is an industry leader and other sub-prime second chance auto lenders model themselves after Americredit. By directing friends away from Americredit, you are not necessarily helping your friends any. They will just be doing business with another company, if they end up with a sub-prime lender, that will basically handle them the same way that Americredit would. Almost every sub-prime lender that I know of has a healthy file in this rip off report!! These companies do not view the individual borrowers as customers. The customers are the auto dealerships. The borrowers are a product that is used to generate profit. One of fivethings happen with a borrower. 1) Either they pay fine and are able to finance their next car themselves or the dealer can get regular financing through his sources. 2) The customers pay poorly and the lender does not want them back as a "customer." 3) They pay so-so and their next purchase must also be financed through sub-prime financing, but they end up with a different finance company for any of several reasons (the dealer doesn't have a relationship with the buyerspresent co., another co. gave a better rate or stronger payment call, etc.) 4) The customer paid so-so and must still finance his next purchase with sub-prime financing and the finacing is done through his present financing. 5) The customer pays fine but due to other credit problems he must stay with sub-prime financing and he ends up with his present borrower. Numbers 4 & 5 rarely happen. These sub-primwe companies do not care about your repeat business. The minute your account goes bad you are deemed a problem account or a potential problem account and they seek to collect the balance in full.

Since I do not have an account with Americredit, I won't be asking them for any printouts. If you read my post, you will see that I said one would probably have great difficulty in getting one from what I have read on these reports. I do hope that you get your fair day in court. But I really speak more to those that do not have an account at Americredit I think it was you who said that you have directed friends and relatives away from Americredit. I warn all who will listen that Americredit is an industry leader and other sub-prime second chance auto lenders model themselves after Americredit. By directing friends away from Americredit, you are not necessarily helping your friends any. They will just be doing business with another company, if they end up with a sub-prime lender, that will basically handle them the same way that Americredit would. Almost every sub-prime lender that I know of has a healthy file in this rip off report!! These companies do not view the individual borrowers as customers. The customers are the auto dealerships. The borrowers are a product that is used to generate profit. One of fivethings happen with a borrower. 1) Either they pay fine and are able to finance their next car themselves or the dealer can get regular financing through his sources. 2) The customers pay poorly and the lender does not want them back as a "customer." 3) They pay so-so and their next purchase must also be financed through sub-prime financing, but they end up with a different finance company for any of several reasons (the dealer doesn't have a relationship with the buyerspresent co., another co. gave a better rate or stronger payment call, etc.) 4) The customer paid so-so and must still finance his next purchase with sub-prime financing and the finacing is done through his present financing. 5) The customer pays fine but due to other credit problems he must stay with sub-prime financing and he ends up with his present borrower. Numbers 4 & 5 rarely happen. These sub-primwe companies do not care about your repeat business. The minute your account goes bad you are deemed a problem account or a potential problem account and they seek to collect the balance in full.

I understand what you are saying but unless you have done business with loansharks, you will not get a statement of anything. This is after certified letters, emails, phone calls and they even ignored the Pentagon until the JAG got involved in our case. These people are crooks and refuse to provide you with anything. THey will send things to the BBB when you complain enough, but it is always some off the wall charges you have never heard of and never seen of course. We asked them to send us a copy of our contract since ours was stolen out of our car along with my social security card and they refused to do that. SO, we went to the dealership and got a copy ourselves. THis company operates like it does because the government allows them to. A class action lawsuit is the only way to go and that is what I am waiting on and so is my husband who was treated like garbage by this company while he was deployed to Iraq fighting for freedoms those lowlifes enjoy too.

I would like to explain how deferment fees work. Let me state first though that I am not an employee of Americredit but I used to work for a competitor. I lefy that company under less than desireable terms and do not wish to defend the industry but only wish to explain misconceptions that people have. Deferment are pure profit for the loan company. No funds are appieed to one's balance. Rather the customer pays a fee for the lender to push a button on a computer that advances the loan as paid through another month. The customer's contract is now extended on the back of the loan for one month. But here's the kicker.... Suppose a customer has paid on a 60 monthe contract for 9 months makes a payment on December 23 for the December 25th payment. Come January 25th that customer does not make the payment that is due and calls to defer that payment. The company agrees to the deferment and it is processed with no funds going onto the account. Now the customer waits until February 25th and pays the payment that is due that day. The account is up to date and in good standing but if that customer is never late again come the last payment due on the loan he/she will owe much more than the amount of his/her payment amount because it is very likely that the payment made on February 25th went all to interest as the account has a daily interest accural rate. The customer has missed two principle payments (January and February) and all through the loan the loan balance is higher by those two missed principle payments. The daily interest accural rate that determines how much of each payment is applied to principle and to interest is determined by your APR and the loan balance. Over the life of a 60 month contract the extra interest on that higher balance can be considerable As to the poster asking how can 3 payments of $337 equal $2500, I don't have a defenitive answer but consider this example. Suppose I buy a car on a 60 month contract and never make a payment for the entire contract. I walk into my bank and tell them that I evaded them for 5 years and now want to pay the 60 payments that I owe them. The unpaid interest due on the note makes the payoff higher than the total of the 60 months of payments. Though you did not skip out on anyone the fact that your payoff does not correspond to the number of payment left on the loan is due to the unpaid interets left on the loan and caused by all those deferments that got applied to your account. To really see what happened on your account you need to somehow get a statement on your account. From what you and others say that may be hard to get. My best wishes to you and others....

Add my tally to a class action suit against Americredit. I have talked to lawyers in the past that have basically told me that since Americredit is a "lender", they pretty much can do what they want to collect their money. Yet, I still (deep down in my soul) think there is something bad and wrong in a company pretty much calling you stupid, lazy, and irresponsible! More than anything in this world, I would love to see a lawyer read these complaints and let us all take Americredit to court. Wonder how long it would take us to get money if we won? Bet anything we would have to fight them to get our money back!

anybody wanting to file a law suit just let us know. Americredit will continue to do just what they have been doing because nobody is stopping them. They are on a first name basis with the BBB, so you know that is useless. That liar Amy Quinn who thinks she is the president, wouldnt know the truth if it smacked her upside her lying head. The CEO's hide behind their little gophers and refuse to talk to you or respond to emails, certified letters and so on. They dont even know how to sign their name, just use initials of WWW when you send a certified letter. Class action lawsuit is the only way to go...

I would like to take this opportunity to suggest to any and all who have been ripped off by Americredit to come collectively and file a consumer law suit against this company. I just got a call from their collection agency stating that they wanted me to pay them $12,000 (the total amount of the car they repossessed from me and sold even after I had reinstated the loan). These people must be stopped from further ripping off consumers.

ok i USED to be in the same boat until recntly when we applied for a personal loan for i had to send 5000 to pay them off. i to was under a 60 month loan and had one deferment done when i was on my death bed. after filling out and faxing confirmations to have this deferment, i was pushed back from nov 2005 to jan 2005. according to americredit, 1 deferment equals 2 months put to the back of your loan. they make you pay this deferment fee that has nothing to do with your regular monthly payment. in my situation, i had to send a 142 deferment fee via western union. that fee was not added to any payments, as a matter of fact, it must of went in americredit's pocket. i got no notice of the other 2 deferments(6 more months) that were thrown to the back of my loan until i checked my credit report. they claim that i requested a total of 6 payments to the back of my loan. i showed bank statements showing that i indeed made those payments. their response to me was that they did not have to provide me with written confirmation and that i did not have to sign a agreement for these other said deferments. i had 6 payments, which were all derferments to go. my monthly payment was 355 a month. six payments at 355 a month was around 2100 bucks. i clicked my payoff amount and they said we owed over 4500 dollars. we did a 2500 dollar check over phone with a western union fee of 7.50 (i thought western union fees were 13.00 and up)and another check by phone for 2188.00 with another 7.50 western union fee. they first cashed one check of 2500 and when our account updated, it showed 3 payments left with a payoff of over 2000. how does 3 payments add up to 2500 dollars? when the other check by phone was cashed,the account went paid. i went to check the status of our account online and they had took us completely out of the system. after i get the title to the car, we will make another complaint about those deferments.